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Cynthia Lummis
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Stance from 2024-01-12
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Cynthia Lummis reposted the post below
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blockchain tipsheet
@blockchaintpsht
.@SenLummis spoke to us today about the state of digital assets legislation in Congress. Among her observations: On SEC's Bitcoin ETF approval, she believes it’s a watershed moment because it... 1) gives consumers, who are not ready for self-custody, exposure to Bitcoin through an exchange-traded fund; 2) provides momentum for the need for a regulatory framework; and 3) for Members of Congress, who are still skeptical but open-minded, Bitcoin ETFs will help flesh out the first use case for digital assets within the traditional asset management world. On Lummis-Gillibrand: "I see multiple possibilities. One is breaking up Lummis-Gillibrand since it would have to be according to the jurisdictions of the committees that exist in the Senate and the House and pursue it a la carte. Or, it could be re-constituted so people can see it as one full piece as it moves through the system -and that remains to be seen." On the NDAA anti-money laundering (AML) amendment that did not make it into the final version of the NDAA, Sen. Lummis was disappointed, but the effort speaks to the need for regulation so the business of digital assets occurs onshore and not off. On the new stablecoin bill, "We're getting closer. Our staffs communicate on a regular basis and we remain very positive and hopeful that stablecoin legislation can move forward this year..." On the recent guidance of the GAO on the Securities and Exchange Commission's SAB 121, "We'll be putting together a Congressional Review Act to conform to that point of view. And make sure that it goes through more formal rule-making." blockchaintipsheet.com/legislation/in…
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2024-01-11T20:48:08.000Z
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Very Pro-Crypto

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